Evolent Health (NYSE:EVH) Price Target Cut to $15.00 by Analysts at Truist Financial

Evolent Health (NYSE:EVH) had its price target lowered by stock analysts at Truist Financial from $20.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target indicates a potential upside of 47.68% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC began coverage on shares of Evolent Health in a report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank of Canada decreased their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. UBS Group cut their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Oppenheimer decreased their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, Stephens cut their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $19.31.

Evolent Health Trading Up 1.6 %

Shares of EVH stock opened at $10.16 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $20.44. The firm has a market capitalization of $1.18 billion, a PE ratio of -11.16 and a beta of 1.45. Evolent Health has a 52-week low of $9.74 and a 52-week high of $35.00.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. The business had revenue of $621.40 million for the quarter, compared to the consensus estimate of $625.58 million. During the same period last year, the business posted $0.19 EPS. On average, analysts predict that Evolent Health will post 0.26 EPS for the current fiscal year.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Evolent Health by 12.8% in the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after buying an additional 1,426,747 shares during the period. Engaged Capital LLC lifted its position in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Eventide Asset Management LLC boosted its stake in shares of Evolent Health by 1.7% during the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares during the period. State Street Corp grew its holdings in shares of Evolent Health by 1.0% in the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after purchasing an additional 25,967 shares during the last quarter. Finally, Bellevue Group AG increased its stake in Evolent Health by 59.9% in the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after buying an additional 1,000,215 shares during the period.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.